Highest-materiality recent filing
Customers Bancorp Q1 EPS $1.97, deposits up 14% YoY to $21.6B
Net income available to common $69.7M ($1.97 diluted EPS); core EPS also $1.97.
Sam Sidhu's first letter: record 2025 core EPS $7.61, TBVPS $61.77; 2026 NII guidance $800-$830M
Sam Sidhu succeeded Jay Sidhu as CEO on Jan 1, 2026 in a planned multiyear transition.
Customers Bancorp reports 2025 core EPS $7.61, guides 8-12% loan/deposit growth for 2026
2025 core EPS $7.61 (vs $2.35 in 2019); revenue $818M; NIM 3.32%; core ROE 13.7%.
Customers Bancorp Q4 GAAP EPS $1.98, core $2.06; record NII; guides 2026 loan growth 8-12%
Q4 net income $70.1M ($1.98/diluted EPS); core earnings $72.9M ($2.06/diluted EPS). Full-year GAAP EPS $6.26, core $7.61.
Sam Sidhu becomes CEO of Customers Bancorp and joins board; Jay Sidhu named Executive Chairman
Sam Sidhu appointed CEO effective Jan 1, 2026, succeeding Jay Sidhu under planned July 2025 succession.
Customers Bancorp Q3 net income $73.7M ($2.20 EPS); NIM 3.46%, CET1 13.0% after $163M equity raise
Q3 2025 net income available to common $73.7M, diluted EPS $2.20; core earnings $73.5M, core EPS $2.20.
Customers Bancorp closes ~$172.5M equity offering; 2.5M shares at $68.50
Aggregate gross proceeds ~$172.5M from 2,518,248 shares (incl. full over-allotment) at $68.50/share.
Customers Bancorp CEO Jay Sidhu to retire; son Sam Sidhu to succeed as CEO effective Jan 1, 2026
Jay Sidhu retires as CEO, becomes Executive Chairman of both Bancorp and Bank effective Jan 1, 2026.
Customers Bancorp to redeem all $57.5M Series E preferred stock at $25/share on June 16, 2025
All 2,300,000 shares of Series E Preferred Stock (CUBIPrE, 9.70% dividend) to be redeemed on June 16, 2025 at $25 per share.
Customers Bancorp shareholders approve 750k-share increase to stock incentive plan; elect directors
Shareholders approved amendment to 2019 Stock Incentive Plan increasing authorized shares by 750,000 to 3,320,325 (29% increase); vote 15.5M for, 9.8M against.
Customers Bancorp CFO Carla Leibold departs; $2.5M severance, equity forfeited
Carla Leibold separated as CFO on April 10, 2024; agreement signed April 25.
Customers Bancorp CFO Carla Leibold terminated for cause; Philip Watkins named successor
Carla A. Leibold terminated as CFO on April 10, 2024 for violating Company policy; she disputes the characterization.
Customers Bancorp acquires $631M loan portfolio from FDIC at 15% discount, hires 30 venture bankers
Acquired $631M venture banking loan portfolio from FDIC at ~85% of book value (15% discount).
Customers Bancorp says FTX bankruptcy has no material impact; CBIT deposits stable at $1.85B
No deposit relationship with FTX or related companies; no loans to any digital asset banking clients.
Mr. Philip Watkins, currently Executive Vice President, Chief Financial Officer of the Company, will transition to Executive Vice President, Head of Corporate Development and Investor Relations, on or around August 15, 2025.
Mark McCollom has been appointed Executive Vice President, Chief Financial Officer of Customers Bank, the Company’s wholly owned subsidiary, effective June 2, 2025, and will assume the role of Executive Vice President, Chief Financial Officer of the Company from Mr. Watkins effective on or around August 15, 2025.
On May 27, 2025, Daniel K. Rothermel, who was reelected for a one-year term as a member of the board of directors of Customers Bancorp, Inc. (the “Company”) at the Company’s Annual Meeting of Shareholders held on May 27, 2025, and who is also a member of the board of directors of Customers Bank, the Company’s wholly-owned subsidiary, informed the Company that he intends to retire from the board of directors and will not stand for reelection at the Company’s 2026 Annual Meeting of Shareholders.
On March 28, 2025, Rajeev V. Date, a member of the boards of directors of Customers Bancorp, Inc. (the “Company”) and Customers Bank (the “Bank”), the Company’s wholly-owned subsidiary, informed the Company that he intends to resign from the boards of directors of the Company and the Bank, effective as of March 31, 2025, to devote more time to other commitments at his firm,
On April 10, 2024, Carla A. Leibold’s employment as Executive Vice President and Chief Financial Officer of the Company terminated.
Carla A. Leibold, who had served as the Company’s Executive Vice President and Chief Financial Officer from November 2018 through April 10, 2024
On April 12, 2024, Customers Bancorp, Inc (the "Company"), the parent company of Customers Bank, promoted Philip Watkins to Chief Financial Officer of the Company.
Ms. Leibold was notified of her termination from employment with the Company on April 10, 2024, for "cause" under her employment agreement for violating Company policy, which termination was effective immediately.
On August 28, 2023, Andrew H. Bowman notified Customers Bancorp, Inc. (the “Company”) that he intends to resign from his position as Chief Credit Officer of Customers Bank (the “Bank”), the Company’s wholly owned subsidiary, on or around December 31, 2023, to pursue entrepreneurial interests.
On September 1, 2023, the Bank promoted Ryan Incorvaia, Managing Group Director and Senior Credit Officer in the Bank’s Technology & Venture Banking Group, to the role of Deputy Chief Credit Officer of Customers Bank.
On August 24, 2022, the Board of Directors (the "Board") of Customers Bancorp, Inc. (the "Company"), appointed Raj Date to serve as a director, effective as of September 28, 2022.
On March 24, 2022, Rick B. Burkey, a member of the board of directors of Customers Bancorp, Inc. (the “Company”) and Customers Bank, the Company’s wholly-owned subsidiary, informed the Company that he intends to retire from the board of directors and will not stand for reelection at the Company’s 2022 Annual Meeting of Shareholders.
Max materiality 0.85 · Median 0.50 · Most common event leadership